B2Gold is experiencing a robust gold price environment, with TTM revenue up 60.9% and gross margins expanding from 34.8% in 2024Q4 to 52.6% in 2026Q1, driving record operating income. However, cash flow volatility, including a -30.8% FCF margin in 2026Q2 and s...
Price trend, volume and key moving averages
Start with the evidence for owning the stock and the risks that can break the thesis.
Revenue surged 114.7% YoY in 2026Q1, with gross margin expanding to 52.6% and operating margin to 50.1%, though net margin volatility (from -141.4% in 2024Q3 to 52.9% in 2026Q2) suggests non-operating drags.
B2Gold Corp. has drawn investor attention ahead of its 25 February 2026 earnings report, which will provide updates on production levels, cost management, and forward guidance.
Despite some downgrades, the wider analyst group maintains an average Overweight rating on B2Gold with a higher mean price target, indicating bullish sentiment.
MarketBeat offers complete SEC filing history through 2026, providing transparency into B2Gold's financial reporting and operational updates for investor analysis.
Trailing total returns as of 9/24/2026, which may include dividends or other distributions. Benchmark is S&P 500 (^GSPC).
Check whether operating performance supports the current valuation.
Recent results and news deserve attention only when they alter the forward view.
| Quarter | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|
Q3 2026Latest Aug 6, 2026 | $0.03-57.1% vs $0.07 | $789M-5.6% vs $836M |
Q2 2026 May 6, 2026 | $0.19+72.7% vs $0.11 | $1.2B+29.7% vs $893M |
Q1 2026 Feb 18, 2026 | $0.11-45.0% vs $0.20 | $1.1B-7.8% vs $1.1B |
Q4 2025 Nov 5, 2025 | $0.14-6.7% vs $0.15 | $774M-32.6% vs $1.1B |
B2Gold is rated Buy, with a projected 20% annual return by 2030, driven by operational improvements and margin expansion. Key catalysts are Fekola Regional's permit, Goose ramping up to 4,000 tpd by H2 2027, and full resolution of prepay and hedge drag by 2027. Production is forecast to rise from 870 koz in 2024 to ~1,040 koz by 2028, with operating cash flow margin expanding from 19% to 41%.
The recommendations of Wall Street analysts are often relied on by investors when deciding whether to buy, sell, or hold a stock. Media reports about these brokerage-firm-employed (or sell-side) analysts changing their ratings often affect a stock's price.
BTG's Otjikoto mine beats expectations, lifting the 2026 production guidance as underground resources and stockpiles support future output.
B2Gold is rated BUY due to strong margins, robust financial health, and favorable long-term EPS growth despite significant geopolitical risk in Mali. BTG trades at a notably low EV/EBITDA multiple (3.22) versus peers, despite a projected 5-year EPS growth of 37.18%, indicating a potentially excessive risk discount. The recent approval of a major permit in Mali is expected to boost production by 10%, with 97,500 ounces annually attributable to BTG.
Benchmark BTG against direct peers instead of judging its metrics in isolation.
Key metrics vs top competitors for B2Gold Corp. (BTG)
| Company | Price | Market Cap | P/E Ratio | Rev Growth (1Y) | Net Margin | ROE | Div Yield |
|---|---|---|---|---|---|---|---|
| $5.35 | $7.13B | 19.11 | 60.95% | 13.13% | 12.05% | 1.33% | |
| $42.84 | $9.12B | 17.07 | 39.93% | 29.89% | 12.38% | — | |
| $19.32 | $19.91B | 21.47 | 96.41% | 26.82% | 12.49% | — | |
| $48.11 | $20.27B | 18.43 | 30.63% | 32.09% | 19.5% | — | |
| $27.62 | $32.98B | 13.88 | 39.34% | 37.57% | 35.26% | — | |
| $19.89 | $11.5B | 17.15 | 77.75% | 31.46% | 27.73% | — |
B2Gold Corp. (BTG) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
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B2Gold Corp. (BTG) stock FAQ — growth, dividends, profitability & financials explained
B2Gold Corp. (BTG) reported $3.75B in revenue for fiscal year 2025.
B2Gold Corp. (BTG) grew revenue by 60.9% over the past year. This is strong growth.
Yes, B2Gold Corp. (BTG) is profitable, generating $793.8M in net income for fiscal year 2025 (13.1% net margin).
Yes, B2Gold Corp. (BTG) pays a dividend with a yield of 1.33%. This makes it attractive for income-focused investors.
B2Gold Corp. (BTG) has a return on equity (ROE) of 12.1%. This is reasonable for most industries.
B2Gold Corp. (BTG) generated $169.5M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
